SG Digest: Quest puts $404K more in Eatsy; Kolao to invest $10m in Myanmar plant

Eatsy Technologies, that backs ordering-ahead application Eatsy, has raised a $404,000 as a follow-on investment led by Quest Ventures while Kolao Holdings (HM) Singapore has proposed to make a $9.8 million investment in Myanmar to manufacture automobiles.

Quest Ventures makes a follow-on $404K investment in Eatsy Technologies

Eatsy Technologies, a Singapore-based food & beverages technology startup, has raised S$550,000 ($404,000) led by Quest Ventures, that invests in technology startups.

The round also saw participation from Wee Teng Wen, founder of The Lo & Behold Group, and RedMart co-founders Roger Egan III, Vikram Rupani and Rajesh Lingappa.

The dining app received its initial round of funding of S$30,000 from Quest Ventures and Enterprise Singapore. The latest financing will be used for the development of its existing application and to improve services related to taking orders and payments.

Founded in 2017, the team is led by Shaun Heng, who was previously with RedMart, Singapore’s online supermarket.

Other restaurant reservation platforms in Singapore include The Chope Group, which raised $13 million led by Square Peg Capital, C31 Ventures and Moelis Australia; Eatigo and HungryGoWhere.

Kolao Holdings proposes $9.8 m investment in automobile facility

Kolao Holdings (HM) Singapore Pte Ltd, a subsidiary of LVMC Holdings that manufactures and sells automobile and motorcycles, has proposed to invest $9.8 million to produce motor vehicles and motorcycles in Myanmar, according to the Directorate of Investment and Company Administration.

Established in 2009, LVMC Holdings, formerly Kolao Holdings, has 10 subsidiaries present in Singapore, Laos, Myanmar, Cambodia, Korea and Hong Kong.

LVMC Holdings manufactures and sells completely knocked down automobile products imported from Korea and used cars under the name of KOLAO. In Myanmar, the company was set up in 2013 under the name of Kolao Holdings Myanmar Co Ltd and Fortune Kolao International Motors Co Ltd.

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